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ealtors, stop letting deals die due to financing issues. There are solutions to every problem, and this guide will help you get your transactions back on track. Don't give up!

    Today's discussion: Financing Denied! What should you do when a buyer's loan is rejected? Whether it's your client or the buyer on your listing, we've got you covered.

    We've closed thousands of transactions and coached countless clients to meet their goals. Our tried-and-true solutions will help you overcome common financing issues:

    1. Down Payment/Closing Cost Issue:

    - Find out how much more is needed.

    - Consider changing loan programs or using gift funds.

    - Can the borrower cash out an investment account or get a co-signer?

    - Ask the seller to provide a second mortgage or contribute to closing costs.

    2. Ratio Issue:

    - Debt-to-income ratios are too high, indicating excessive debt and low cash flow.

    - Ask the lender which of these solutions would work:

     - Pay off credit cards, loans, or other debts.

     - Switch to a different loan product with more lenient ratio requirements.

     - Raise the down payment.

    3. Credit Score Issue:

    - Find out precisely what's causing the issue (low score or damaging item).

    - If it's fixable, use Experian.com to update credit and correct errors.

    - Consider switching to FHA or another mortgage type if necessary.

    - Negotiate a lower payoff for liens or debts.

    4. Buyer's Home Sale Tanked:

    - Take your backup offer if you have one (re-check with the lender).

    - Convert the contract to 'contingent on home sale with an escape clause.'

    - Communicate with the listing agent to strategize and find alternative solutions.

    Remember, most deals have a solution! Manage your mindset, get off the panic button, and take action.